1000 South Clark
RL Accelerated lead the lease-up at 1000 South Clark, which is a 469 unit building in the South Loop. The property has over 43,000 square feet of amenity space ranging from a rooftop deck with breathtaking Lake views, a racquetball and basketball court, a 10,000 square foot health club, an indoor/outdoor pool, a 25,000 square foot terrace equipped with outdoor TVs and grills, and much more. The property opened up for occupancy in February of 2016 and RL lead the building to stabilization by January of 2017.
- Higher Rents: Achieved rents 9% over projected proforma.
- Faster Lease-Up: The lease up was completed in 11.5 months, adding an additional 3 months of rental revenue over industry standard.
- Reduced Broker Commissions: Reduced outside broker involvement to 24% (as compared to 50%+ industry standard).
- Fewer Concessions: Our expert leasing team provided ongoing strategies designed to maximize unit pricing, minimize rental concessions, and improve overall NOI while implementing marketing strategies to bring more qualified traffic and lease apartments faster than the competition.
1000 South Clark In the news:
- Crain's - Developers score big payout in South Loop apartment deal
- "The building is about 75 percent leased, he said. JDL and iStar originally forecast it would take 16 months to lease it up, but they now expect that to happen in 11 months."
640 North Wells
RL Accelerated will be starting the lease up at 640 North Wells in Spring of 2017. The 250 unit building is in the heart of the River North neighborhood. The property possesses ample amenities including a Billiards Lounge, Restaurant Demonstration Kitchen, Club Lounge and Parlor, Golf Simulator, Rooftop Swimming Pool, Pro-Grade Fitness Center, and more.
The building is set to open for occupancy in July of 2017 and pre-leasing will begin in April.
Two West Delaware
RL Accelerated added Two West Delaware to its portfolio in the summer of 2017. Two West Delaware is a 189 unit development, 150 of which are rental. Two West Delaware is centered in the heart of Chicago’s most prestigious neighborhood, the Gold Coast. Neighbors include 5-star hotels such as the Waldorf Astoria, world class restaurants on Rush Street and high-end shopping destinations along Oak Street and Michigan Avenue.
The RL team heads the ongoing leasing and marketing strategy for the building.